Wednesday, 14 Zulqaidah 1440 / 17 July 2019

Wednesday, 14 Zulqaidah 1440 / 17 July 2019

Rupiah weakens on report of FOMC meeting result

Kamis 18 Oct 2018 23:30 WIB

Red: Reiny Dwinanda

Money exchange service.

Money exchange service.

Foto: Akbar Nugroho Gumay/Antara
Dollar gained over other major currencies after the meeting of FOMC.

REPUBLIKA.CO.ID, JAKARTA -- Rupiah lost 73 points in interbank transaction on Thursday closing at the level of 15,213 per U.S. dollar from earlier level of 15,140. Chief researcher of Monex Investondo Futures, Aristo Tjendra said the result of The Fed meeting deciding further increase of its fund rate in December strengthened the U.S. dollar over other major currencies in the world.

"The dollar gained over other major currencies after the meeting of Federal Open Market Committee (FOMC) that jacked up the dollar exchange rate," he said.

He said the rise in The Fed fund rate was to prevent the U.S. economy from overheating.

He said the U.S. Central Bank is expected to continue to raise its fund rate by phases to prevent overheating.

Also read: Financial industry able to tackle risk of rupiah weakening

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